LIVERPOOL John Moores University will hand out a record amount of scholarships worth £700,000 after being blown away by the exceptional calibre of applicants.

Liverpool’s John Moores university will this week confirm more than 170 talented students will each receive a credit crunch-busting £1,000 for each year of their study.

The students made impassioned applications and met tough criteria requiring them to demonstrate a range of skills including academic excellence, voluntary and community work and sporting ability.

Due to the high quality of applications, a record six students will each receive £10,000 every year of their degree course via the coveted Vice-Chancellor’s Award.

It is given to exceptional students who are academically gifted and demonstrate outstanding commitment in another area, such as voluntary work or sport.

It means the institution is awarding more than £700,000 worth of scholarships for students – a university record.

For the successful applicants, it will be a double financial celebration after they beat tuition fee rises, which will be the maximum £9,000-a-year at JMU from 2012.

The university said more than half of the total number of scholarship winners are from the North West, which it said would give the region “an added boost in a period of slow economic growth”.

Steve Kenny, Pro Vice-Chancellor for student experience, said: “It is a record-breaking year for the university in terms of scholarships because the standard of applications was so high.

“Traditionally JMU is one of the most generous higher education institutions in the UK. In addition to the scholarships, we award non-repayable bursaries which exceed the 2011-2012 minimum requirement of £300 set by the Office for Fair Access. The university is awarding £500 to eligible students.”

This academic year the university also increased its Access to Learning Fund for students who can demonstrate a need for additional financial support by £150,000.

The support comes two years after Yoko Ono donated £260,000 so students brought up in care could thrive at JMU.

Her cash helped fund the ongoing John Lennon Imagine Awards scheme, aimed at students who were in care or estranged from their families.

Cllr Nick Small, cabinet member for employment, enterprise and skills, said: “The university has a great reputation for widening participation.

“This is fantastic news for Liverpool and gives young people the opportunity to study at university.”